Italy - Factors to watch on February 8

The following factors could affect Italian markets on Friday.

Reuters has not verified the newspaper reports, and cannot
vouch for their accuracy. New items are marked with (*).

* EU BUDGET

European Union leaders agreed the framework for a new
long-term budget on Friday after 15 hours of intense
negotiations, laying the ground for 960 billion euros of
spending on everything from agriculture to scientific research
in the years ahead.

ENI

Milan prosecutors have put Paolo Scaroni, head of Italy's
Eni, under investigation in a probe into alleged bribes paid to
win contracts in Algeria for Saipem, in which Eni is the largest
investor, the company said.

Eni chairman Giuseppe Recchi reiterated the operational
independence of Saipem from Eni in an interview in Corriere
della Sera. He said there were no grounds for any eventual
stepping down of Scaroni.

SAIPEM

The Italian oil service group does not expect any more nasty
surprises to undermine its profitability as it seeks to draw a
line under a shock profit warning last week that wiped billions
off its value and left investors incensed.

TELECOM ITALIA

Telecom Italia said on Friday its adjusted net debt fell to
about 28.3 billion euros at the end of 2012, missing its own
target of 27.5 billion euros.

The company is in talks with its banks over a 3 billion
euros loan deal, banking sources said on Thursday, which could
help protect the company against possible future turbulence in
debt markets.

The group releases its full-year results and business plan
update on Friday.

TELECOM ITALIA MEDIA

Italian broadcaster Telecom Italia Media said on Friday its
board had decided to postpone the discussion of its sale
process, without indicating a date.
* Italian businessman Diego Della Valle is interested in the
broadcaster and has put forward the idea of creating a
consortium of some 10 businessmen to this end, La Repubblica
said.

IMPREGILO

The head of the Gavio group, a leading shareholder of
Impregilo, is considering his options with UniCredit and Nomura
on whether to respond to a takeover bid for the construction
company launched by peer Salini, La Repubblica said.

FIAT INDUSTRIAL

The truck and tractor maker Fiat Industrial has renewed a 2
billion-euro ($2.7 billion), three-year credit revolving credit
facility, the company said on Thursday.

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